Colonie Center co-owner trading under new symbol

Stock in Feldman Mall Properties Inc., minority owner of Colonie Center, is now trading under a new symbol on the over-the-counter market, the company announced this week.

Feldman’s stock, formerly FMP, had been suspended in early July from the New York Stock Exchange after the company’s value fell below $25 million.

The ticker symbol now is FMLP, and is trading occurs on the OTC Bulletin Board.

The Great Neck, Long Island-based real estate investment trust bought Colonie Center three years ago and has pumped $110 million into improving the facilities and attracting new tenants. The company owns seven malls all over the country, but has come under fire by stockholders over complaints of stock value, mismanagement and high expenses.